| Schedule of Profit Interest Unit Activity |
The
following is a summary of the Profit Interest Unit activity for the three months ended March 31, 2026:
Schedule
of Profit Interest Unit Activity
| | |
Profit Interest Units | | |
Weighted Average Profit Interest Unit Participation Threshold | |
| Unvested balance as of December 31, 2025 | |
| 4,023 | | |
$ | 1,322 | |
| Granted | |
| - | | |
| - | |
| Vested | |
| (743 | ) | |
| 1,291 | |
| Forfeited | |
| - | | |
| - | |
| Unvested balance as of March 31, 2026 | |
| 3,280 | | |
$ | 1,330 | |
| Vested balance as of March 31, 2026 | |
| 870 | | |
$ | 1,746 | |
|
The
following is a summary of the Profit Interest Unit activity for the year ended December 31, 2025:
Schedule
of Profit Interest Unit Activity
| | |
Profit Interest Units | | |
Weighted Average Profit Interest Unit Participation Threshold | |
| Unvested balance as of December 31, 2023 | |
| - | | |
$ | - | |
| Granted | |
| 3,643 | | |
| 1,000 | |
| Vested | |
| - | | |
| - | |
| Forfeited | |
| - | | |
| - | |
| Unvested balance as of December 31, 2024 | |
| 3,643 | | |
| 1,000 | |
| Granted | |
| 506 | | |
| 4,418 | |
| Vested | |
| (126 | ) | |
| 4,418 | |
| Forfeited | |
| - | | |
| - | |
| Unvested balance as of December 31, 2025 | |
| 4,023 | | |
$ | 1,322 | |
| Vested balance as of December 31, 2025 | |
| 126 | | |
$ | 4,418 | |
|
| Schedule of Fair Value of Profit Interest Units |
|
The
Company estimated the fair value of the Profit Interest Units using the OPM on the date of grant. The assumptions used in the OPM were
as follows:
Schedule
of Fair Value of Profit Interest Units
| | |
| | |
| |
| | |
December 31, | |
| | |
2025 | | |
2024 | |
| Weighted average expected term (years) | |
| 0.59 | | |
| 6.00 | |
| Weighted average expected volatility | |
| 80.8 | % | |
| 77.5 | % |
| Risk-free interest rate | |
| 3.8 | % | |
| 4.2 | % |
| Dividend yield | |
| 0 | % | |
| 0 | % |
| Weighted average Marketability Discount | |
| 14.4 | % | |
| 32.5 | % |
|